Why did Evolution move?
Written after the close on
Evolution rose with the market, helped by buyback news. Over the last five trading days Evolution fell slightly, and the Stockholm market fell slightly too, so the share moved a bit more than the market. The likely driver is the buyback programme: the company repurchased its own shares through late September and cancelled a large block of them, which shrinks the number of shares outstanding and usually supports the price. A Brazilian gambling ban weighing on its Latin America business is a likely partial drag, and the nomination committee news is routine. Watch the late-October earnings report next.
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History in plain words, not investment advice.